Salem Foundation
- Assets
- $50.9m
- Revenue
- $16.5m
- Investments
- $50.2m
- Employees
- 0
- Location
- Boston, MA
- Founding
- 11/2000
- Data as of
- 12/2023
- EIN
- 13-7196668
Organization Overview
Salem Foundation is located in Boston, MA. The organization was established in 2000. According to its NTEE Classification (T21) the organization is classified as: Corporate Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Salem Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Salem Foundation generated $16.5m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 12.9% each year . All expenses for the organization totaled $2.3m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Salem Foundation has awarded 116 individual grants totaling $41,497,146. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $9,400,178 |
| Interest on Savings | $43,654 |
| Dividends & Interest | $1,433,850 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,507,101 |
| Capital Gain Net Income | $5,507,101 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $77,935 |
| Total Revenue | $16,462,718 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $135,105 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $8,423 |
| Total operating and administrative expenses | $300,606 |
| Contributions, gifts, grants paid | $2,047,998 |
| Total expenses and disbursements | $2,348,604 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $644,048 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,499,276 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $50,882,159 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Salem Foundation has awarded $2,797,998 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
BILLY ANDRADEBRAD FAXON CHARITIES FOR CHILDREN PURPOSE: TO PROVIDE GRANTS TO CHARITIES SERVING CHILDREN AGE 18 AND UNDER. TO FUND PROGRAMS THAT DIRECTLY AFFECT AT-RISK CHILDREN | $25,000 |
CAMPAIGN FOR CATHOLIC SCHOOLS PURPOSE: TO PROVIDE THE OPPORTUNITY FOR ALL YOUNG PEOPLE TO EXPERIENCE THE VALUE OF A QUALITY CATHOLIC EDUCATION. | $50,000 |
COLLEGE BOUND DORCHESTER INC (UNCORNERED) PURPOSE: BUILT BY, AND FOR, THE COMMUNITY AND INDIVIDUALS WHO BELIEVE IN THE TRANSFORMATIVE POWER OF EDUCATION, AND CURRENTLY OPERATES AS BOSTON UNCORNERED. | $125,000 |
FOUNDATION FOR THE CAROLINAS PURPOSE: TO SERVE AS A CATALYST FOR PHILANTHROPIC ACTIVITY IN OUR 13-COUNTY REGION AND IS A DRIVER FOR MAJOR CIVIC EFFORTS. TO OFFER INNOVATIVE SOLUTIONS THAT HELP INDIVIDUALS, NONPROFITS AND COMPANIES BRING THEIR CHARITABLE VISIONS TO LIFE. | $50,000 |
HARVARD BUSINESS SCHOOL PURPOSE: EDUCATIONAL TO SUPPORT STUDENT NEEDS. | $200,000 |
IONA UNIVERSITY PURPOSE: TO PROVIDE HIGHER EDUCATION WITHIN RICH HERITAGE OF DIVERSE CHRISTIAN AND CATHOLIC LEGACIES, ESPECIALLY INTELLECTUAL INQUIRY AND THE VALUES OF JUSTICE, PEACE, AND SERVICE. | $10,000 |